Early Signs of Financial Difficulty
Continually carrying debt on credit cards, depending on overdrafts or lines of credit to make ends meet, using one form of credit to pay for another, hiding spending from a partner or using credit to pay for essential living costs are some of the early indications that someone may be heading for financial difficulty.
Signs of more serious financial difficulty can quickly follow – receiving past due letters and collection calls at home or work, sleepless nights due to financial worries or legal action by creditors.
Pay cheques don’t come with instructions – it’s up to us to learn sound money management skills and enjoy reaping the rewards! As working adults, we are expected to be able to manage our finances responsibly. However, many people aren’t taught how to do this. It’s never too late to learn how to build a budget, use credit wisely, stay out of debt and save for the future – all of which fit hand in hand with developing a good financial plan for our money.